Question

journal entry of goods of the selling price of 20000 were sold at a trade discount of 5% and cash discount 2% payment received by cheque ​

Answer 1

JOURNAL ENTRY

Date                 Particulars                          L/F       Debit             Credit

2 June 2020   Trade Discount A/c     Dr              1000

                        Cash Discount A/c     Dr                200

                        Bank A/c            Dr                         18800

                                to Sale                                                         20000